In __________ the number of firms operating in the market is small and the action of each firm…
Oligopoly is a market structure with a small number of mutually interdependent firms. Each firm's decisions can affect its rivals and therefore take their likely responses…
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In __________ the number of firms operating in the market is small and the action of each firm influences, and is influenced by the action of other firms.
Answer and explanation
Correct answer A
Oligopoly is a market structure with a small number of mutually interdependent firms. Each firm's decisions can affect its rivals and therefore take their likely responses into account.
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Rajasthan SET (RSET)